US existing home sales rise in May; mortgage rates still a constraint

WASHINGTON (Reuters) -U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said on Monday. The sales pace was the slowest for the month of May since 2009.